Western Areas is pleased to announce full repayment from cash reserves of the A$105.5m convertible bond issue expiring today. The repayment is consistent with guidance provided to the market over the last 12 months confirming the company's focus on maintaining a sound and stable balance sheet. Western Areas' Managing Director, Dan Lougher, said [...]
The Board of Western Areas is pleased to announce that the updated Probable Ore Reserve for the Spotted Quoll underground has been increased to 3,095,500 tonnes at an average grade of 4.2% nickel containing approximately 131,360 tonnes nickel. This represents an increase of 94% in reported contained nickel metal compared to the figures last [...]
Western Areas is pleased to provide an update on expected production and sales figures for the financial year ending 30 June 2012 (FY12). The update arises following an internal review of the initial performance of the Spotted Quoll underground operations, which have exceeded expected performance. As a result Western Areas has now upgraded mining [...]
The March Q was another outstanding operational period with record sales of 8,154 tonnes of nickel in concentrate, bringing year to date sales of 19,392 nickel tonnes. Concentrate sales for the 2nd half are expected to track towards 15,000 contained nickel tonnes, being 25% higher than the first half. This is a direct outcome of improved shipping [...]
The Board of Western Areas is pleased to announce formal completion of the acquisition of 100% of Kagara Nickel Pty Ltd for A$68 million. The effective date of the transfer of all nickel assets to the Company, including the high grade Lounge Lizard deposit, is 1 March 2012. The formal completion of the acquisition finalises the agreement announced [...]
The Board of Western Areas is pleased to announce the Company has reached agreement with Kagara to purchase 100% of Kagara Nickel Pty Ltd including the high grade Lounge Lizard nickel deposit for A$68 million. The Lounge Lizard deposit is located adjacent to Western Areas' 100% owned Flying Fox nickel mine at the Forrestania Nickel Project. As per [...]
The Board of Western Areas is pleased to announce a Net Profit After Tax (NPAT) of $24.1m for the six months to 31 December 2011, demonstrating the ability of the Company to generate strong profits despite a downswing in commodity prices over the period. The Board has determined to pay an interim dividend of 5 cents per ordinary share.
Western Areas - The December Q was another outstanding period with record production at low cash costs from the Flying Fox and Spotted Quoll mines. Combined production from these mines was 8,572 tonnes of nickel in ore confirming the high quality of these assets. Nickel sales were substantially higher quarter on quarter and we expect this to [...]
The Board of Western Areas is pleased to announce an update of the Mineral Resource at Spotted Quoll, including the first resource estimate for the Stage 2 area. The revised Mineral Resource for Spotted Quoll now comprises a total Indicated Resource of 2,515,200 tonnes at an average grade of 6.0% nickel for 151,500tns nickel and an Inferred [...]
Western Areas NL - The Board of Western Areas takes great pleasure in announcing that Mr Dan Lougher has been appointed as the new Managing Director of the Company effective from 1st February. Mr Lougher is currently the Company's Operations Director and was appointed from a group of applicants following an extensive and competitive process [...]
Western Areas is pleased to announce the Company has reached agreement to close-out its ongoing royalty arrangements with Outokumpu Mining Australia Pty Ltd (Outokumpu) for US$30m (tax effective price US$21m). The agreement is payable in two instalments, with US$15m payable this month and US$15m due 12 months later.
The Board of Western Areas is pleased to announce that following a competitive tender process, the Company has agreed key terms with Jinchuan Group Ltd to sell up to 15,000 tonnes of nickel in concentrate for a one year period. Both companies are now finalising documentation. Western Areas Managing Director, Mr Julian Hanna said, "We are pleased to [...]
